Munich Reinsurance America, Inc.'s Mobility Domain is creating new insurance intended to enable the deployment of low-speed autonomous vehicles (“LSAVs”).
Munich Re US's Mobility Domain focuses on establishing strategic partnerships and pilot projects that will enable the company and its clients to develop risk management solutions for the new era of mobility, including such areas as vehicle telematics, shared mobility, crash avoidance systems, and autonomous vehicles.
The company said in a statement that its new underwriting unit “offers another layer of support for clients as they adapt to the evolving mobility space.” It added that the new underwriting unit “is focused on creating innovative insurance solutions for low-speed autonomous vehicles.”
An LSAV moves people within closed environments such as college and university campuses, retirement communities, and industrial/ corporate office parks and parking lots.
Munich Re added that, by gathering and analyzing autonomous vehicles data, it was “gaining valuable risk insights.”